Jimmy Choo in

Sarla Buch
25 Jul, 2017
New York City

Covestro net profit more than doubled on 20% surge in revenues. Dassault revenues and profit jumped. Groupe Eurotunnel net tumbled 41% but the transportation company held out for improved results. Jimmy Choo agreed to be acquired by Michael Kors for

[R]4:00 PM Frankfurt – Covestro net profit more than doubled on 20% surge in revenues. Dassault revenues and profit jumped. Groupe Eurotunnel net tumbled 41% but the transportation company held out for improved results. Jimmy Choo agreed to be acquired by Michael Kors for £896 million.[/R]


In London trading, FTSE 100 index jumped 71.89 or 0.9% to 7,449.03 and in Frankfurt the DAX index increased 61 or 0.5% to 12,269.91.

In Paris, CAC 40 index advanced 46.84 or 0.9% to 5,174.53.

Covestro AG slipped 1.7% to €63.90 after Germany-based polyurethanes and polycarbonates producer reported sales in the first-half ending in June surged 20% from a year ago to €7.1 billion.

Net profit in the period more than doubled to €952 million from €412 million from a year ago six-month period and diluted earnings per share advanced to €1.04 from €0.21.

The plastic materials manufacturer said operating profit in the period jumped 61.3% from a year ago to €1.7 billion. Sales in polyurethanes segment soared 31.2% to €3.8 billion and sales in polycarbonates business surged 15.3% to €1.9 billion.

Covestro reaffirmed to generate cumulative total free operating cash flow of €5 billion in the next five years.

Dassault Systemes SE, the France-based engineering software solutions provider said sales in the first-half ending in June advanced 14.3% from a year ago to €1.6 billion.

Net profit in the period jumped 8.8% to €208 million from €191.2 million from a year ago six-month period and diluted earnings per share gained to €0.81 from €0.74.

Dassault Systemes forecasted third-quarter total revenue in the range of €760 million to €775 million and earnings per share in the range of €0.62 to €0.65.

In the fiscal 2017, revenues estimated between €3.24 billion and €3.27 billion and earnings per share between €2.62 and €2.66, representing a growth objective of about 5% to 7%.

Groupe Eurotunnel SE decreased 1.4% to after France-based infrastructure and transport services provider said in the first-half ending in June rose 3% from a year ago to €497 million.

Net profit in the period tumbled 40.7% to €35.5 million from €59.9 million from a year ago six-month period and diluted earnings per share slumped to €0.07 from €0.11.

Channel tunnel operator forecasted more profit and dividend growth in fiscal 2017 and 2018 and operating profit of about €530 million in this year and €560 million in the fiscal 2018.

Hochtief AG gained 1.2% to €151.50 after Germany-based construction and civil engineering services provider reported sales in the first-half ending in June jumped 17.6% from a year ago to €11.02 billion.

Net profit in the period soared 34.8% to €189.1 million from €140.3 million from a year ago six-month period and diluted earnings per share increased to €2.94 from €2.18.

As of June 30, the construction services provider said new order increased 3.7% to €13.7 billion and backlog orders jumped 11.7% to €42.6 billion.

Jimmy Choo Plc surged 16.9% to 228 pence after the U.K.-based women''s shoes, handbags, leather goods retailer agreed to be acquired by the U.S.-based women''s apparel and accessories retailer Michael Kors Holdings Ltd for about £896 million or $1.2 billion.